Grab (NASDAQ:GRAB) Trading 6.2% Higher

Grab Holdings Limited (NASDAQ:GRAB) traded up 6.2% during mid-day trading on Thursday . The company traded as high as $3.42 and last traded at $3.41. 25,236,810 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 23,483,029 shares. The stock had previously closed at $3.21.

Wall Street Analyst Weigh In

GRAB has been the subject of several recent research reports. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $3.60 to $3.80 in a report on Thursday, January 18th. HSBC reissued a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Finally, Barclays dropped their price target on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.10.

Grab Trading Up 5.6 %

The company’s 50-day moving average price is $3.24 and its 200-day moving average price is $3.23. The firm has a market cap of $13.30 billion, a price-to-earnings ratio of -34.00 and a beta of 0.91. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share. Equities analysts expect that Grab Holdings Limited will post 0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the business. Kore Private Wealth LLC acquired a new position in Grab during the second quarter worth about $29,000. Miracle Mile Advisors LLC purchased a new position in Grab during the first quarter worth about $32,000. Stifel Financial Corp purchased a new position in Grab during the first quarter worth about $33,000. US Bancorp DE raised its stake in Grab by 56.1% during the fourth quarter. US Bancorp DE now owns 10,236 shares of the company’s stock worth $34,000 after purchasing an additional 3,679 shares during the period. Finally, National Bank of Canada FI purchased a new position in Grab during the third quarter worth about $35,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Company Profile

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.